DMP & Mutual Support Thread - Part 8

MrDJB192

Well i contacted the COOP to open a new account last week - and they said they'd send me my application form in the post.....nothing arrived yet

Have had to make sure my wage is sent to my partners account now

How long does it take to send a form out - its been a week!

Feeling better today myself, again, thanks for all feedback on my posts. Had a couple of ideas to make money online and also have an interview for a second job on monday. Don't care how many hours I have to work - I will shave time of this debt free date!!

Alice_in_Welfareland

stupid-fool wrote: »

Thanks.

You are correct that I have moved everything to a safe bank account, but Lloyds had informed me that they were leaving my Lloyds TSB accounts alone and can be operated normally. I'm not using them now, but because of the way they offered to manage my OD via a monthly reductions to the limit, there is unused credit available.

My fear is that if they take money from the OD, the banking teams will then say that I'm still using my current account for additional credit and start applying interest & charges again.

It is a long time since I have posted on this thread with a different name in a past life but I do still read it. I felt like I had to reply to this post because it is an example of people not understanding how a DMP works and the dos and don'ts. I believe this is Payplan's and CCCS's job to pass this information on but either they are not doing this or their clients are not understanding what they are supposed to be doing.

You should not have any credit available to you on a DMP and you should insist that Lloyds either close your overdraft facility and pass it to their recoveries department. Or at least reduce it to the amount that was outstanding at the start of your DMP, then continue to reduce it each month as your overdraft drops with your DMP payments.

Someone wrote earlier that Lloyds are useless and this is correct but I'm not sure if this is all an act as they are also very clever at manipulating the system and fooling the regulatory bodies. If they can find a way to overcharge you and get away with it they will do so. Don't give them the opportunity.

Best wishes
Alice

Time_to_face_the_music

MrDJB192 wrote: »

Well i contacted the COOP to open a new account last week - and they said they'd send me my application form in the post.....nothing arrived yet

Have had to make sure my wage is sent to my partners account now

How long does it take to send a form out - its been a week!

Feeling better today myself, again, thanks for all feedback on my posts. Had a couple of ideas to make money online and also have an interview for a second job on monday. Don't care how many hours I have to work - I will shave time of this debt free date!!

I think it took us about a week or 10 days to get set up with the Co-Op bank. Maybe it's the Christmas post causing the delay?

Great ideas around and about this forum for making some extra money online. I have bought all my granddaughter's Christmas gifts from vouchers earned doing surveys and am now a keen ebay and Amazon seller. It never ceases to surprise me how our old tat is someone else's treasure

stupid-fool

Alice_in_Welfareland wrote: »

It is a long time since I have posted on this thread with a different name in a past life but I do still read it. I felt like I had to reply to this post because it is an example of people not understanding how a DMP works and the dos and don'ts. I believe this is Payplan's and CCCS's job to pass this information on but either they are not doing this or their clients are not understanding what they are supposed to be doing.

I agree with you, but as StepChange (CCCS) are only going through the motions of repeatedly resubmitting the same paperwork that has caused the confusion I feel I need to act with my own letters as it is my financial situation that can get potentially worse.

Alice_in_Welfareland wrote: »

You should not have any credit available to you on a DMP and you should insist that Lloyds either close your overdraft facility and pass it to their recoveries department. Or at least reduce it to the amount that was outstanding at the start of your DMP, then continue to reduce it each month as your overdraft drops with your DMP payments.

The problem is that I wasn't at my OD limit when I started the DMP and because of this Lloyds have started to reduce my overdraft facility monthly from the original limit. They have stopped interest and charges, and moved the account into their recovery department so other than the limit (which I have no plan to use) they have done what was needed. I believe that the banking approach was to not remove our ability to live and therefore gradually reduce the OD. They have assumed that I would remain a Lloyds customer.

As preciously stated it needed to be StepChange who brokered the initial agreement.

Alice_in_Welfareland wrote: »

Someone wrote earlier that Lloyds are useless and this is correct but I'm not sure if this is all an act as they are also very clever at manipulating the system and fooling the regulatory bodies. If they can find a way to overcharge you and get away with it they will do so. Don't give them the opportunity.

Best wishes
Alice

Good point - maybe its by design.

Thanks

Twit_Head

alyxzandra wrote: »

I must be really lucky with Barclaycard as they have stopped all interest from the start. In fact, they were the easiest ones to deal with! And defaulted us from the start. From what I have read about M+S seems like we are lucky we have nothing with them. With your debt how can they not see there is a financial difficulty??????? :eek:

There is no logical reasoning or rules where creditors are concerned (as others have said and suffered before)
Barclaycard were the best of my creditors. I'd taken out the card on an interest free deal. When my DMP started they accepted, didn't default and didn't mark my credit file 'arrangement to pay'
At the close of my DMP, they had not a penny of interest from me.
Not much comfort to those who are suffering I know, but just shows how inconsistent the creditors can be.
Looking at it now from outside a DMP, it seems truly shocking there can be such differences and inconsistences within even the same company! :eek:
Surely there must be some way to stop this nonsense from happening? (A set of ground rules (that can't be twisted) without having to appeal to the FSA or write begging letters to creditors etc)

'Twitty'

Twit_Head

Time_to_face_the_music wrote: »

It never ceases to surprise me how our old tat is someone else's treasure

Scuse me - I think you mean 'vintage' or 'retro' desirable item

Very true though - give it a go. Any extra money is good money! (And don't let on to friends and relatives but those unwanted pressies might bring you in some much needed extra cash in the wilderness that is January )

'eBay "R" us' :rotfl:

'Twitty'

Twit_Head

Alice_in_Welfareland wrote: »

If they can find a way to overcharge you and get away with it they will do so. Don't give them the opportunity.

Best wishes
Alice

Very true and good advice. But how bad is that you have to play a game of cat and mouse to outsmart your creditors?
All those with debt who are trying to repay have enough of a burden to carry without this. It's a steep learning curve - having to get to know the whys and wherefores of a DMP.
Thanks goodness for this support group! :T
'Twitty'

Twit_Head

Time_to_face_the_music wrote: »

Turkey curry anyone? :rotfl:

"Stir the gravy Una" (Just call me Bridget!)

Ooh and please may this be the year Santa brings me Colin Firth? :j:j:j
Don't want to hang around like the last guest at the restaurant (there's nothing so past as someone post DMP) but it's been lovely to be back in touch this past few days.

Keep strong, keep paying and never let the b*st*ds grind you down (my DMP motto )

I want to wish each and every one of you a very Happy Christmas. May the peace and joy of the season be with you. (You don't need loadsa money for this-honest) :santa2:

And a very happy New Future as well - it might not seem like it now, but what you are living and learning now will stand you in good stead for the future. :beer:

Have a good one! :rudolf:

'Twitty' xxx

NoMore

Twit_Head wrote: »

There is no logical reasoning or rules where creditors are concerned (as others have said and suffered before)

I really wish people would stop perpetuating this myth, I refer you to my previous post #4388

There will be rules and logic, its just not as simple as company 'A' always freezes interest on all accounts in a DMP. Thats what people want, but its not what happens. We just don't know their rules. They will assess the size of the debt, the total debt owed, percentage payback etc, etc. This will be different with everyone and so can result in a different decision for everyone. It doesn't mean there is no rules or logical reasoning, just that your circumstances are different to another person.

If people are willing to post their entire credit history, then we could possibly start to figure out the rules, but as that's unlikely to happen, then don't assume one company will treat you the same as another debtor merely because you both have an account with said company.

I know it can seem unfair when you hear that in most cases a company freezes interest, but then doesn't for you. None of the above I talk about should deter you from complaining and trying to get interest stopped, just don't have any expectation of what will happen based on what happened to other people.

EDIT: And just to complicate things further Company 'A' rules will be different to Company 'B' so you can't just apply a blanket assumption to every company/debtor

Twit_Head

NoMore wrote: »

I really wish people would stop perpetuating this myth, I refer you to my previous post #4388

There will be rules and logic, its just not as simple as company 'A' always freezes interest on all accounts in a DMP. Thats what people want, but its not what happens. We just don't know their rules. They will assess the size of the debt, the total debt owed, percentage payback etc, etc. This will be different with everyone and so can result in a different decision for everyone. It doesn't mean there is no rules or logical reasoning, just that your circumstances are different to another person.

If people are willing to post their entire credit history, then we could possibly start to figure out the rules, but as that's unlikely to happen, then don't assume one company will treat you the same as another debtor merely because you both have an account with said company.

I know it can seem unfair when you hear that in most cases a company freezes interest, but then doesn't for you. None of the above I talk about should deter you from complaining and trying to get interest stopped, just don't have any expectation of what will happen based on what happened to other people.

I didn't quite make a blanket observation. That was my point of my post -everyone is treated differently. But as you say "we don't know their rules"
And of course it depends on circumstances - but should those rules not be made more transparent?
It is a frightening enough to be starting on a DMP without floundering in this confusing mire



'Twitty'